The bill amends Section 44-5-11.8 of the General Laws regarding the classification of property for tax purposes. It allows the town of Middletown to adopt a tax classification plan that divides residential real estate into non-owner and owner-occupied properties, enabling the establishment of separate tax rates for each category. This plan must comply with existing tax rate restrictions. The town is required to provide rules and regulations governing the division and definition of non-owner and owner-occupied properties. The act will take effect upon passage.

Statutes affected:
351: 44-5-11.8